ASC Issues Trading Bans Against Virginia-Based International Fiduciary Corp SA



    CALGARY, Feb. 18 /CNW/ - The Alberta Securities Commission (ASC) has
issued permanent trading bans against Virginia-based International Fiduciary
Corp SA (IFC), Virginia resident Preston Pinkett II and British Columbia
residents Daniel Eric Byer and Malcolm Cameron Boyd Stevenson. The ASC panel
decision reciprocates British Columbia Securities Commission (BCSC) orders
issued against the same parties on February 20, 2008.

    
    The ASC panel orders:

    -   permanently ban all trading in or purchasing of securities of IFC;
    -   permanently ban IFC, Pinkett, Byer and Stevenson from trading in or
        purchasing securities; and
    -   permanently ban Pinkett, Byer and Stevenson from acting as directors
        or officers of any issuer.
    

    The ASC panel noted that the BCSC panel had found that IFC, Pinkett, Byer
and Stevenson illegally sold IFC securities and lied to induce investors to
participate in a Ponzi scheme. The ASC panel also noted that this misconduct
may have extended to Alberta and was convinced by "the seriousness and
multijurisdictional nature of the misconduct" that IFC, Pinkett, Byer and
Stevenson posed a significant risk to Alberta investors and the Alberta
capital market.

    A copy of the decision is available on the ASC website at
    www.albertasecurities.com.

    The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.

For further information:

For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488

Organization Profile

Alberta Securities Commission

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